Pune, India, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Europe nurse call systems market expected to expand from USD 487.7 million in 2023 to USD 1,162.8 million by 2030, exhibiting a CAGR of 13.2% over study period. Market growth can be attributed to growth in patient monitoring due to age-related disorders and rising number of patient admissions, which has bolstered demand.
Fortune Business Insights provides this information in its research report, titled "Europe Nurse Call Systems Market, 2023-2030".
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Key Industry Development:
April 2023: Honeywell International Inc. announced the launch of a real-time health monitoring system for the improvement of care delivery and patient monitoring in remote locations.
Key Takeaways:
- According to Eurostat, in 2022, over one-fifth, or 21.1%, of the European population was aged 65 and above.
- As of 2020, an article from the Pew Research Center indicates that in numerous European countries, the rates of older individuals living alone surpass those in the United States.
- As reported by the German Society for Alzheimer's sufferers, approximately 1.8 million individuals in Germany received a diagnosis of dementia in various forms in 2020.
- The market is categorized based on end users, including home care settings, assisted living and nursing centers, hospitals, and other segments.
- In the European market in 2022, Germany generated a revenue of USD 69.8 million.
Discover the Leading Players Featured in the Report:
Ascom Holding AG (Switzerland), Siemens (Germany), Legrand (France), Honeywell International Inc. (U.S.), SCHRACK SECONET AG. (Austria), Austco Healthcare Limited (Australia), Intercall Systems Inc. (U.S.), Baxter (Hill-Rom Services Inc.) (U.S.), Televic (Belgium), NiQ Health (Australia)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 13.2% |
| 2030 Value Projection | USD 1,162.8 million |
| Base Year | 2022 |
| Market Size in 2023 | USD 487.7 million |
| Historical Data | 2019-2021 |
| No. of Pages | 131 |
| Segments covered | By Technology, By Product, By End User, By Country/ Sub-Region |
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Segmentation:
Lower Hardware Costs of Wired Systems to Proliferate the Segment Growth
By technology, the market is bifurcated into wireless and wired. The wired segment captured a significant share in 2022. Wired systems incur lower hardware costs owing to the absence of built-in radio modules to purchase. This factor is augmenting the wired segment growth.
Basic Button based Systems Segment Dominated Due to Rising Adoption
In terms of product, the market is divided into IP-based interconnectivity systems, mobile/smartphone integrated systems, basic button based systems, and others. The basic button based systems segment accounted for the largest Europe nurse call systems market share in 2022. The surging adoption of basic button based systems, mainly in hospitals is fostering segment growth.
Surging Incidence of Chronic Disorders to Impel Hospital Segment Growth
By end user, the market is categorized into assisted living & nursing centers, home care settings, hospitals, and others. The hospitals segment held the largest market share in 2022. The increasing occurrence of chronic disorders depicts a high potential for an increased number of hospitalizations, bolstering the demand for nurse call systems. This factor is proliferating the hospital's segment growth.
Based on country, the market is divided into France, Germany, the U.K., Italy, Scandinavia, Spain, and the rest of Europe.
Driving factor:
Surging Preference for Wireless Nurse Call Systems to Escalate Market Growth
One of the major factors propelling the Europe nurse call systems market growth is the rise in the preference for wireless nurse call systems. A shift in preference for remote patient monitoring has been observed in the market. This factor has resulted in a rise in the adoption of wireless systems which can be integrated into mobile phones.
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Country insights:
Germany Holds Significant Share Owing to Growing Number of Surgical Procedures
Germany market secures the significant market share on account of the rising number of surgical procedures. The market stood at USD 69.8 million in 2022.
The U.K. market is poised to expand at the highest CAGR during the forecast period on account of many innovative launches.
Competitive Landscape
Key Players Focus on Product Innovations to Enhance Patient Monitoring
With regards to market share, Honeywell International Inc., Legrand, Austco Healthcare Limited, and Hill Rom Services Inc. are some of the prominent companies in the market. Moreover, strategies such as mergers and acquisitions, joint ventures, and others are being opted by these players to capture the largest share. Many players are also emphasizing the release of innovative products to deliver enhanced patient monitoring solutions.
FAQs
How big is the Europe Nurse Call Systems Market?
Europe Nurse Call Systems Market size is USD 487.7 million in 2023.
How fast is the Europe Nurse Call Systems Market growing?
The Europe Nurse Call Systems Market will exhibit a CAGR of 13.2% during the forecast period, 2023-2030
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